The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1887-04-19

OUTLOOK OF THE SUGAR MARKET.

OUTLOOK OF THE SUGAR MARKET.
In another column We devote consid-
cradle space to an calculation OF the
governing conditions of the sugar mar
ket so far as these Islands are concerned.
In a comprehensive review of the situa-
ton it is necessary to take cOgnizance OF
the worlds source of supply and distrl-
button, This brings out facts OF vast i'm
portance to those having sugar invest
ments on these Islands, because look at
it how we may there is only one ayalla-
BILE market for Hawaiian sugar, and that
is the Pacific Slope. Shut off this mar
ket. and what is there left? Australasian
consumption is being supplied by home
production supplemented by imports from
Java, Mauritius, and Fiji, which latter
is developing into sugar country whose
output must soon be taken into account
in estimating tina worlds production.
Queensland even has sold raws at paying
prices in London, within the past twelve
month, although the sugar was trans
shipped at Sydney in course OF transit.
We mention these facts to show emphat-
ically that there is no back-doOr for the
sugar industry of these Islands. The
Southern hemisphere will take care OF
itself, and under more favorable condi-
tions, which are clearly possible OF at
tainment, it will ship its surplus to
northern markets We are therefore
left with the naked conditions so graph
cally presented in our special article upon
this subject.
The question hence arises, do these
conditions give promise of ultimate sue
cess? We do not mean is this or that
particular interest likely to be success
full or the reverse; but simply are the
entire body of investors reasonably GER
tain of adequate returns for the capital,
skill and labor embarked by them in
the planting of cane and production OF
sugar? If not, wherein lies the weak
ness of their position? Intelligent bust
ness men will not be slow to arrive at a
correct conclusion upon these PROPOSE
tons. The answer is self-evident, and
it is in substance and effect the best pos
sible reply that could be made to, the
illiberal I'M Just and eXtravagant state
ments with which, some time ago, the
opposition to the California Sugar Re
finery was inaugurated and "boomed'
in this Kingdom. Nothing short OF boy
cotting the Refinery and the Oceanic
Company's vessels would suffice. The
mere inception of the new scheme of
commercial and financial emancipation,
as it was absurdly styled, was regarded |
as an mplishment of its purpose; |
but little over a twelve month has |
elapsed when total and disastrous col
lapse is threatened the opposition COM !
bination. There is apparently nothing
to save it, because the figures published |
by us are absolutely correct. It sowed |
the wind and is now reaping the whirl-
wind
We warned all those who participated |
in this delirium of excitement at the |
time that they were getting upon
treacherous ground which might at any |
moment slip away from them; but 1t /
was then useless to appeal to reason or
common sense. Reason was disregarded, !
and prudent business considerations |
gave placo to desire to injure sue !
cessful business rival. Prejudice and |
personal antagonism ruled the hour. |
But the fever of excitement is past.
Sober reason should now be invoked, 4
before it be too late. That things cannot |
go on as they are without serious danger |
to the plantation and commercial
interests of the Kingdom is undoubted, |
and that danger can only come from one |
quarter is equally true. Just how far |
those who are involved can get out of the |
position In which they voluntarily placed |
themselves is not for US to say. That |
they may do so successfully is our hope |
and wish. Meanwhile, this affair is an
apt illustration of the danger of permit
ting prejudice to control reason, and of |
mistaking recklessness for business en-
terprise. The lesson is one which we
fear many on these Islands may have
cause to lay to heart before long.
2@lz